Boston Capital is investing in the construction of Solutions Escondido Apartments, a 33-unit apartment community for families and special-needs residents in Escondido, Calif.
The general partner is Solutions For Change, based in Vista, Calif. Hitzke Development Corp., based in Temecula, Calif. is serving as a development consultant to Solutions For Change.
Located in San Diego County, Solutions Escondido Apartments will feature 23 units specifically designated for special-needs tenants, including homeless and formerly homeless families, and 10 units will be available to large families.
Boston Capital is investing nearly $7.5 million in low-income housing tax credit equity to help build the development.
“In addition to providing safe and affordable housing, we are especially pleased that social services will be available onsite to help families and individuals in need of assistance get back on their feet,” said Jack Manning, president and CEO of Boston Capital, in a statement.
Solutions For Change will provide residents with coaches and specialists who will spend time with families and offer immediate and ongoing access to resources that blends affordable housing, education, health solutions and employment opportunities. Residents will also have access to a number of commercial, employment, and transportation resources.
Unit amenities will include central air, blinds, ceiling fans, storage closets, walk-in closets, and patios or balconies. A two-story community building will feature a community room and kitchen, a computer lab, a meeting room, a lobby, and a central laundry room.
The apartment community will be LEED Gold certified and incorporate sustainable design features to reduce energy usage and utility costs. The property will also feature 1,250 square feet of commercial space.
Boston Capital's investment in this development adds 33 homes to its apartment portfolio. To date, Boston Capital has invested in approximately 14,000 apartments in California.